By Norman Palihawadane The CID is investigating a human trafficking network enabling Lankan ex servicemen to fight as mercenaries in both sides of the Russia-Ukraine war, Police headquarters sources said on Friday. According to information confirmed by the investigators, at least five such mercenaries have been killed in the fighting. There were two confirmed deaths […]

Fergus Cumming, Deputy Chief Economist of the Foreign, Commonwealth and Development Office (FCDO), concluded a three-day visit to Colombo from 18 to 20 March, British High Commission said in a statement. Fergus engaged in constructive discussions with key stakeholders, including the State Minister of Finance, Central Bank Governor, IMF Representatives, Diplomatic counterparts, opposition parties, ...

In an unprecedented display of candor, Premier Li Qiang’s inaugural government work report delivered a scathing indictment of the myriad economic woes plaguing China at the recently concluded National People’s Congress in Beijing. The wide-ranging report pulled no punches in exposing the cascading domestic fragilities and external hostilities that threaten to derail the world’s second-largest [...

Jammu and Kashmir is experiencing a period of high growth, driven by proactive government policies, strategic investments, and concerted efforts aimed at unlocking the region’s immense potential. • Jammu and Kashmir contributes approximately 0.8 percent to India’s GDP, in alignment with its population share of 0.9 percent and its FDI and exports are expanding, with […]

Jammu and Kashmir is experiencing a period of high growth, driven by proactive government policies, strategic investments, and concerted efforts aimed at unlocking the region’s immense potential. • Jammu and Kashmir contributes approximately 0.8 percent to India’s GDP, in alignment with its population share of 0.9 percent and its FDI and exports are expanding, with […]

President Ranil Wickremesinghe participating in a friendly discussion organized by the ‘United Youth Union’ on the theme ‘Future of our Youth’ in Polonnaruwa on Saturday (23), stressed the necessity of a new economic reform program for the country’s economic recovery. He requested for collective support from all citizens to prevent the next generation from inheriting […]

by Rajan Philips The Election Commission of India has set a staggering 44-day timetable for the country’s 18th Lok Sabha elections, between April 19 and June 1, with the results declared on June 4. There will be seven phases of voting – on April 19, April 26, May 7, May 13, May 20, May 25, […]

After constructive discussions in Colombo, IMF Senior Mission Chief Peter Breuer and Deputy Mission Chief Ms. Katsiaryna Svirydzenka issued the following statement: “The IMF team reached staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement and concluded the 2024 […]

… corruption cited as one of the three issues faced by the country Japanese Ambassador Hideaki Mizukoshi Thursday (21) urged Sri Lanka to turn the continuing economic, political and social crisis into an opportunity to achieve success. The Ambassador said that the country should take advantage of the continuing external pressure to adopt reforms, build-up […]

Following productive discussions, the International Monetary Fund (IMF) and Sri Lankan authorities have achieved a staff-level agreement on economic policies, marking a significant step in concluding the second review of the 4-year Extended Fund Facility (EFF)-supported program and the 2024 Article IV Consultation. This was stated by Mr. Peter Breuer, IMF Senior Mission Chief during […]

The International Monetary Fund (IMF) reached a staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement. The EFF arrangement was approved by the IMF Executive Board for a total amount of SDR 2.3 billion (about US$3 billion) on March […]

The Sri Lankan Rupee (LKR) has appreciated against the US dollar (USD) today (March 19), according to the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Rupee appreciated against U.S. Dollar on March 19, 2024 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

ECONOMYNEXT –State-run Ceylon Electricity Board is losing qualified engineers at an alarming rate, after a currency collapse and new progressive taxes slapped on the debased salary, and they are not coming back, union officials said. Ceylon Electricity Board has a cadre of around 1,000 engineers but they have been usually managing with lower levels of […]

Standard Chartered Bank’s Global Research team conducted its 2024 H1 Global Research Briefing (GRB) in Sri Lanka recently, themed ‘A soft landing, with risks’. The event took place on 4 March at the Galle Face Hotel Colombo and was attended by corporate, commercial and institutional banking clients of the Bank. It provided a valuable platform […]